Emerging markets still a good bet, Abbott
22-Oct-15, MD+DI
Despite warnings that overall growth in emerging economies is slowing, Abbott Laboratories chairman and CEO Miles D. White remains confident that these markets continue to offer plenty of opportunity for healthcare companies.
%20Medical%20Device%20and%20Diagnostic%20Industry.jpg "Emerging markets still a good bet Abbott (c) Medical Device and Diagnostic Industry")
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During the third quarter of 2015, Abbott, which plays in pharmaceuticals and nutritional products in addition to medical devices and diagnostics, saw revenue in emerging markets soar 21% on an operational basis. Contributing heartily to that growth were diagnostics, sales of which also ticked up by double digits during the quarter.
“While clearly there has been some softening in emerging markets, growth in these economies continues to outpace growth in the developed world, and healthcare is growing even faster than overall economic growth in these markets,” White said. “National policies focused on expanding access to care and favorable trends, including increasing birth rates, aging populations, and adoption of Western standards and technologies, are all driving growth.”